Budgeting prep question - Page 1

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[ARCHIVED THREAD] - Budgeting prep question

Posted: 9/17/2022 2:31:57 AM EDT

Hi,

Hey quick question for you all. I have $60,000 in savings. I sold a property I inherited. My home is paid off my vehicles are paid off I have plenty of guns and ammo and food for three years. Considering our current economy what would you all do with some of this? What investments? I’m not a money guy and am not rich. We bring in about $80k/yr. I would like to plan wisely, and not just spend the money. I am 56 years old and my wife is 54 and we are not in need of any toys.

Posted: 9/17/2022 2:40:59 AM EDT

[#1]

I'd invest it in a low fee index fund that tracks the S&P500. Such as VOO, IVV, or SPY.

Posted: 9/17/2022 2:53:36 AM EDT

[#2]

The problem with finance questions is nobody gives all the data we need to advise you.

That said treasurydirect. Gov I bonds are paying 9.6%. You can get 10k per calendar year per person plus gift box another 10k this year.

Ill also assume you already maxed your retiremet accounts

Posted: 9/17/2022 7:23:28 AM EDT

[#3]

No, I was a police officer for 30 yrs. I moved between State retirement jobs and a tribal police that offered a 401k I didn’t buy in to. When I left the state retirement job at 33 yrs old I stupidly pulled it. Police work in my county, back then paid crap. So I believed at that time that I would stay with travel police. That being said I have 11 years in a public employee retirement account, that I need 20 years to retire. The cost of buying it back is way more than the money I have.

Posted: 9/17/2022 8:37:59 AM EDT

[#4]

First thing, talk to your accountant or get one if you don't have one. Learn your potential tax burden then decide which direction you jump.

Tj

Posted: 9/17/2022 9:05:29 AM EDT

[#5]

Tax burden?

Posted: 9/17/2022 10:30:37 AM EDT

[#6]

Quote History

Quoted:
Tax burden?

View Quote

Umm, gotta pay uncle sugar and 10% to the big guy. This your first time?

Posted: 9/17/2022 11:34:42 AM EDT

[#7]

You would probably get better advice here.
https://www.ar15.com/forums/General/Business-andamp-Investing/133/

Posted: 9/17/2022 11:39:02 AM EDT

[#8]

Put it in gold in about 2 months. Then just hang onto that for a few years. Then profit.

Posted: 9/17/2022 1:09:09 PM EDT

[#9]

Quote History

Quoted:

Umm, gotta pay uncle sugar and 10% to the big guy. This your first time?

View Quote

Oh, lol, taxes have been paid

Posted: 9/17/2022 1:09:27 PM EDT

[#10]

This is the survival forum, not the finance forum, which is in general. So I assume he meant what survival stuff should he buy

I’d make sure you keep enough cash to weather primary income loss for a while, then get a sustainable, discrete supply of water, electricity, fuel

Posted: 9/17/2022 5:53:21 PM EDT

[#11]

Things to think of…

When is the last time the roof on the house been replaced?

Cars ok on tires or are they 5k miles to replacement?

How’s the water heater, furnace, AC ?

Any leaky windows in the house?

Last time you took a honest vacation to relax with your partner?

House need paint?

What other 5-10 k items are at end of life in your household? Time for a kitchen remodel? How’s the carpet?

Not enough site resources to type it all out…

Posted: 9/17/2022 6:24:30 PM EDT

[#12]

Survival Forum, ......NVGs and thermal..... protect your shit at night. Debt free, guns ammo and a food stash for years very well set. NVGs and thermals wouldn't be toys, vital for night time operations. Then do the finance advise.

Posted: 9/17/2022 6:45:44 PM EDT

[#13]

The house maintenance advice above is good. Not sure where you are as far as energy preps
(e.g. generator, stored fuel) or if that's feasible where you are, but that's another place to look.

Posted: 9/18/2022 1:53:15 AM EDT

[#14]

Preventative maintenance is always good.
Retirement planning--do you have that sorted?

Posted: 9/18/2022 5:48:10 AM EDT

[#15]

Quote History

Quoted:
The problem with finance questions is nobody gives all the data we need to advise you.

That said treasurydirect. Gov I bonds are paying 9.6%. You can get 10k per calendar year per person plus gift box another 10k this year.

Ill also assume you already maxed your retiremet accounts

View Quote

Posted: 9/18/2022 10:00:34 AM EDT

[#16]

Last December we stayed in a VRBO cabin in Mayhill near Cloudcroft. We visited Ruidoso a couple times.

I don't know how the travel/tourism industry will hold up as the economy tanks next year, BUT if you're staying in NM and looking for a way to make passive income a VRBO cabin in the mountains may be an idea to look into.

With all the military at Holloman and White Sands, I would think you could keep some regular business.

Posted: 9/18/2022 12:33:43 PM EDT

[#17]

I’d be looking for real estate as either a BOL, hunting property, investment property, etc.

[ARCHIVED THREAD] - Budgeting prep question

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